P.R. Laws tit. 26, § 3918
(a) No person, including a insurer, agent or affiliate of an insurer shall make, publish, disseminate, circulate or place in public view or cause to be made, published, disseminated, circulated or placed in public view, directly or indirectly, in any newspaper, magazine or other publication or as a notice, circular, pamphlet, letter or poster, or over a radio or television station, or otherwise, any written or oral advertisement, notice or statement, using the existence of the Puerto Rico Life and Disability Insurance Guaranty Association for the purpose of selling, soliciting or as an inducement for the purchase of any type of life and disability insurance. However, this section shall not apply to the Puerto Rico Life and Disability Insurance Guaranty Association.
(b) Within one hundred eighty (180) days after the approval of this chapter, the association shall prepare a document describing the general purposes and coverage limitations offered by the Association under this chapter. Such document must be submitted to the Commissioner for approval. Upon the approval thereof, the Association shall distribute such document to all member insurers. The document shall also be available to any insured or policy and/or contract owner upon request. The distribution, delivery, contents, or interpretation of this document does not guarantee that either the policy or the contract or the owner of the policy or contract is covered and protected under the provisions of this chapter in the event of insolvency. The information contained in such document must be revised by the association once the amendments to this chapter are approved, and the revised document shall be submitted to the Commissioner for approval. Failure to receive this document does not give the policy or contract owner or the insured or beneficiary any greater rights than those stated in this chapter.
(c) The document prepared under subsection (b) above shall contain a clear and conspicuous disclaimer warning that not all policies or contracts are covered under the provisions of this chapter. Said disclaimer shall be approved by the Commissioner.
History —Ins. Code, added as § 39.180 on Aug. 17, 1991, No. 72, § 1; Aug. 20, 2009, No. 82, § 4.